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Level 3
posted Jun 18, 2019 12:18:42 PM

Trouble amending return to include K-1

I received a K-1 unexpectedly after filing.  I have entered the data from the K-1, and have encountered problems:  the first was I needed to add a second K-1 for box 16 lines F and M and removed those from the first K-1( I think, and did so); the second is now I am getting the error message:   " Box 16 Description-1 has been entered for more than one type of income.  Use separate K-1 worksheets to report more than one type of foreign gross income sourced at the entity level."                       I thought this is what I fixed?  There was a nice answer to a nearly identical question that indicated that one needs to click a check box to "elect to forego completion of form 1116" since there was not any foreign tax paid;  however, that is not an option, it seems, in TT Online Premium.  I've tried adjusting the amount from box 16 line b to remove the amount included on the second K-1, but that wasn't the solution.   How do I fix this?  Do I need to just get the paper forms and fill them out? 

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2 Replies
Level 15
Jul 13, 2019 7:01:54 AM

You left out one key piece of information. What kind of K-1 did you receive? The box/line numbers of the diferent types of K-1's do not match up, so this matters. Was it a 1065-K1? 1120-S K-1? 1120 K-1? 1041 K-1?  It would also help to know what boxes on your K-1 have numbers/codes in them that you are entering (or trying to enter) into the program. For any codes please share the code too, as that can really matter.

 

Level 3
Jul 13, 2019 10:33:33 AM

Thank you Carl.  I actually did figure it out; I deleted both K-1s and started over, and it went through without a hitch then.  TT really could use some clearer and more extensive explanation for entering K1s (Such as,  Be more clear about when a second one is needed, what needs to be on both K-1s, what can be skipped on the second,  what needs to be on the second, and so forth).

It was a 1065, BTW.